The US entity of FXCM Inc has announced that it is going to integrate live trading with cloud-based algo trading platform QuantConnect. The move is seen as an expansion of the capabilities of algorithmic traders that are using the services of the largest US brokerage for retail foreign exchange clients.
Live trading will be executed via FXCM’s no dealing desk execution system. Clients that use QuantConnect will gain access to FXCM’s historical tick data, which also includes second and 1 min price history until to 2007.
Over 24,000 quants are active participants on the forums of QuantConnect. The community provides answers to a variety of issues that they are facing with their algorithmic trading strategies.
QuantConnect is based on Lean Algorithmic Trading Engine (“Lean”), which is an open source solution that is a fully managed C# algorithmic trading engine. The product is built for desktop and cloud usage. It supports Python, C#, and F# and their respective mathematical libraries.
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Commenting on the announcement, the CEO of FXCM US, Ornit Niv, said: “FXCM sees tremendous value for algo traders in their open source model that offers outstanding flexibility and power for strategy creation and backtesting. FXCM continues to prioritize development of tools, resources and partnerships for clients seeking the most comprehensive solutions for their diverse algorithmic trading needs.”
The brokerage is delivering a variety of connectivity and hosting services through its Application Programming Interface (API) solutions. Customers of FXCM can collocate with FXCM’s VPS partners or use FXCM’s data center directly via a cross connect if they have rack space.
Clients with rack space outside of FXCM’s data center are provided with Metrolink access, a service that connects data centers directly and minimizes latency. FXCM partners with multiple VPS providers with a physical presence in FXCM’s data center, offering virtual hosting options to clients who prefer to not maintain their own rack space.
FXCM is currently offering the industry standard FIX API which is available with or without market depth, FXConnect API, and Java. Clients of FXCM that need of developers can utilize FXCM’s Programming Services team to build the most complex custom strategies.
The QuantConnect solution is providing sophisticated backtesting, anonymous order execution, no restriction on strategies and according to the brokerage is ideal for scalpers.